LINK FOR CRYPTO DERIVATIVES CONFIRMED. holy shit guys. Look at what Chicago Project just retweeted. This is the project that Sergey tweeted he was “thinking deeply” about today.
The fact that they’ve retweeted a LINK shilling account, and the actual text of the tweet, very strongly suggests that they want to use LINK to create crypto derivatives. We’re all gonna make it.
>The fact that they’ve retweeted a LINK shilling account, and the actual text of the tweet, very strongly suggests that they want to use LINK to create crypto derivatives. We’re all gonna make it.
what is the use of it? redpill me
Jason Sanders
What are crypto derivatives?
Cameron Collins
All of this “news” and Link still shitting itself.
GGWP
Matthew Gray
That's it, I'm buying LINK
Isaac Lewis
I expect to see a 3 million dollar chain link by tomorrow
Owen Diaz
everything is shitting itself you imbecile
Lucas Lopez
...
Lincoln Peterson
LINK sat value hasn’t changed within 2% all week.
Xavier Anderson
pink for link
Samuel Price
>measuring in sats
shiggydiggy
Leo Wilson
He also doesn't realize LINK has climbed from Rank 105 to Rank 80 with zero marketing in the last 3 months.
Robert Richardson
Interesting. I have to look into that project.
Dylan Collins
could someone explain to me (as a brainlet).
Also how the fuck is link gonna scale on the ether network if the aggregation and reputation is also run on the chain. Link really needs its own chain for that. Imagine how many api calls you need and how expensive everyone will by only for paying GAS.
Witnet has a much better solution with its own blockchain and a mix of pow(mining) and information providing.
Brandon Lee
lol ok go buy witnet and enjoy waiting for the testnet in 2019
Noah Sullivan
you can't make api calls on-chain in solidity. by necessity chainlink will have it's own chain.
Evan Jenkins
LINK is blockchain agnostic
Brayden Phillips
>sep 2019 testnet
Damn dude a year behind seems pretty problematic
Jeremiah Mitchell
WE GONNA MAKE IT FAMM
Carter Morales
>Zero marketing
Nigga it's shilled all day every day on biz what the fuck are you talking about?
Eli Stewart
>imjying some shilling from autistic board with frog memes is marketing
It's the opposite actually
Jonathan Wilson
/biz is about 10 autists and 100 low lives..../biz is not close to mainstream
Landon Harris
This. It's bizarre to me. LINK just doesn't want to fucking move from that 80 spot. SXSW will be exciting either way. 5 days bros.
Jordan Hughes
This...
My god, the guy who said 'nigga' is probably some white 16 year old with 500 dollars of mommy and daddies money he's hoping to get rich quick off of
Justin Baker
If you think shilling in /biz is marketing, well...
David Cooper
more like 50 dudes and 1000 pajeets
Julian Nelson
Yesterday it was #77 in coinmarketcap for an hour
Christian Cooper
My BTC value in sats has been stable all week also. In fact, it hasn't moved all year
Tyler Hall
LINK is DEFINITELY being manipulated. It's UNNATURAL that a coin with this much story around it would be so UNDERVALUED.
It makes me wonder whether I am really in on some huge secret and the market is just retarded, or more likely, it's all a fughazi
Ian Reed
link's got 18 decimals goys... $1 trillion eoy
Jackson Morales
Nobody fucking knows about it. Think about the percentage of crypto "investors" who read Veeky Forums. Now from all of those people, you have to be weathered enough to sift through tons of memes to even start thinking about researching what LINK does. Most people just fly over threads and think LINK threads are noise. And then you even get people that understand what LINK does but still don't throw money at it because of X reasons. You basically have to have insider knowledge or be a complete retard with your money and just throw it at a random project like this to invest in link.
Jaxson Bennett
I guess I’m retarded?
Carter White
Wasn't that hard for me to decide famalampai I was in the ICO, everybody was feeling good about LINK, not too shilly either. Tbh I miss late summer biz
Thomas Anderson
compare this with the marketing of Tron. Just take a look at Justin Sun´s twitter, and then Sergeys. Spot the difference?
Adam Cook
You ain't dropping those bags on me >"smart money"
Blake Williams
WE ARE ALL IN THIS TOGETHER
DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!!
THIS SHIT IS GOING TO REACH $1,000 EASILY! HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!
VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!
EVERYTHING IS ENERGY AND VIBRATION ATTUNE YOUR VIBRATIONS TO MATCH THAT OF MONEY AND IT WILL FLOW TO YOU
MEDITATE DAILY AND VISUALIZE LINK REACHING $1000 IN THE PRESENT MOMENT FROM YOUR HEART CENTER
WE WILL ALL MAKE IT
Christopher Foster
Yes, we are all retarded. Together.
Jaxson Taylor
Sergey tweeted about this project Today. Cryptocommodities and crypto derivatives are basically a new idea that the guys at Chicago project came up with. The derivatives market is like 2 trillion dollars or something crazy. They want to invent the same thing but for crypto and this retweet suggests they will use chainlink. This is huge I think
Cameron Gray
Real talk ive been on Veeky Forums for ages, biz for about a year, and I only looked into LINK threads two weeks ago. Better now than at ATH I guess. I always kicked myself for not placing bets on the election, weaponized autism recognized the winner and I wrote off weaponized autism, LINK is a chance to make sick gains, the autism confirms it. High accuracy+high barrier of entry for normies. I love it.
Asher Reed
We're all gonna be billionaires, marines Do NOT fucking sell because WE ARE ALL IN THIS TOGETHER
DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!
THIS SHIT IS GOING TO REACH $1,000 EASILY! HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!
VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!
EVERYTHING IS ENERGY AND VIBRATION ATTUNE YOUR VIBRATIONS TO MATCH THAT OF MONEY AND IT WILL FLOW TO YOU
Andrew Clark
Holy shit can you guys shut the fuck up and take your shit posting elsewhere. This thread was supposed to be about LINK being used for motherfucking crypto derivatives. Instead we have a bunch of retards arguing about the same bullshit that’s in every thread. I was hoping for an actual discussion of what LINK being used for crypto commodities would mean but only like 3 people in this thread actually asked what it means.
Fuck, crypto derivatives could be HUGE if they got anywhere near as big as derivatives in traditional markets. I can’t believe they retweeted that LINK shill account it’s actually a huge deal. Fucking newfags and retards
Xavier Robinson
you are a MANIAC!
Robert Gray
kek, we had that discussion plenty of times in september link threads faggot
Connor Mitchell
WIR STECKEN HIER ALLE GEMEINSAM DRIN
UNTERSCHÄTZE NICHT DIE KRAFT POSITIVER GEDANKEN! BESONDERS VON GEMEINSAMEN POSITIVEN GEDANKEN!!
DIESE SCHEISSE WIRD LOCKER 1000€ ERREICHEN! BEHALTE DAS IM KOPF UND VISUALISIER ES VOR DEINEM INNEREN AUGE JEDEN TAG SO OFT WIE MÖGLICH VON JETZT AN UND ES WIRD WIRKLICHKEIT WERDEN. TU ES! ICH MACHE KEINE SCHERZE!
ALLES BESTEHT AUS ENERGIE UND SCHWINGUNGEN SYNCHRONISIER DEINE SCHWINGUNGEN MIT DENEN VON GELD UND ES WIRD ZU DIR KOMMEN
MEDITIER TÄGLICH UND VISUALISIER WIE LINK 1000€ ERREICHT GENAU HETZT VON DEINEM TIEFSTEN HERZEN
WIR WERDEN ES ALLE SCHAFFEN
Brandon Reyes
dude... SO ARE YOU you are in every fucking thread saying the exact same shit
"the definition of insanity is doing the same thing over and over and expecting a different result"
Jayden Murphy
du bist ein WAHNSINNIGER
Adam Jenkins
You are a MANIAC
Nolan James
how new are you?
Jaxson Parker
HIVEMIND
Hunter Bell
Waiting for Charlie lee to shitpost about how chainlink is a good idea for Forex and Derivatives. Any day now.
Cameron Nelson
From the project Chicago and gastoken websites: “Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets. Like these conventional commodities, blockchain commodities are critically important to blockchain-based industries, and fluctuations in their prices pose a business risk. A critical property of physical commodities is that they can be stored and delivered under contract. The resulting derivatives market (financial instruments based on commodity prices) is instrumental for managing and alleviating the business risks associated with surpluses and shortages of the commodities they rely upon. In contrast, cryptocommodities cannot be directly stocked or traded. So how could a cryptocommodities market work? Project Chicago aims to understand these new generation of financial instruments that can be created. This includes the study of oracle-based and in-protocol futures for Bitcoin block and UTXO space, and for Ethereum state and block space”
So they want to bring derivatives to cryptocurrecy. LINK holders have speculated that LINK would capture a share of the $1.2 quadrillion derivatives market in traditional financial markets. But what they're proposing here in this project Sergey tweeted about is bringing derivatives to crypto through crypto-commodities (and specifically oracle based ways to do this, obviously chainlink). Correct me if I’ve understood this wrong.
This is why investing in smart contract related tokens is way smarter than "muh crypto as a currency" like Nano or Ripple. All that currency cryptos can do is move money around fast and maybe cheaper than traditional bank transfers etc.
In contrast, smart contracts (using oracles) are able to CREATE new opportunities for money TO BE MADE. It's not about saving money but creating value.
Oliver Campbell
yes but the token node operators are paid in is tied to ETH
Isaac Robinson
No you didn’t. You’re thinking of regular derivatives. Crypto derivatives and crypto commodities are a new concept as of like TODAY and we just basically had confirmation that LINK will be used in their development.
Henry Taylor
its a total shitcoin, i knew that from day 1. shit’s gonna go down, die slow and painful.
Hudson Kelly
To clear this up for you, we will all be millionaires in 24-36 months.
Nolan Powell
>LINK is just a meme
Eli Mitchell
Checked. 7's don't lie.
Levi Flores
100K EOY ez
Isaac Kelly
NEMOJ JEBENO PRODAVATI JER SVI SMO U OVOME ZAJEDNO!
NE POTCJENJUJ MOĆ POZITIVNOG RAZMIŠLJANJA! POGOTOVO NE KOLEKTIVNOG POZITIVNOG RAZMIŠLJANJA!
OVO SRANJE ĆE LAKO DOSEĆI $1,000! DRŽI TU MISAO I VIZUALIZIRAJ JE U SVOM UMU ŠTO ČEŠĆE MOŽEŠ POČEVŠI OD SAD I TO ĆE POSTATI STVARNOST! UČINI TO! UOPŠTE SE NE ŠALIM!
VIZUALIZIRAJ ŠTO ČEŠĆE I DETALJNIJE MOŽEŠ!
SVE JE ENERGIJA I VIBRACIJA PODESI SVOJE VIBRACIJE U SKLADU SA TIM OD NOVCA I ON ĆE POTEĆI PREMA TEBI
Nolan Williams
This really doesn't help me at all understand what derivatives are
Adam Collins
Why would link be better than 0x for derivatives?
Landon Morris
I really hate the $1,000 EOY meme, but if ChainLink is used for derivatives then $1K is a low estimate for the price of LINK. Maybe not end of year, but eventually it will be huge.
Wyatt Williams
>still caring about 0x, the summer hype coin
Gabriel Morales
...
Daniel Williams
And one thing people don't understand is that fast currencies are actually worth LESS. The faster you can transfer a currency, the less total value it needs to be able to handle all the value being transacted.
Julian Campbell
>you are in every fucking thread saying the exact same shit It's a new pasta in the pastachainlink the rate of new pasta added to the chain is growing at an alarming rate
Christopher James
Can anyone explain what derivatives are for a brainlet like myself?
Carson Garcia
Derivatives are like where the value of the thing you’re investing in doesn’t come from the object itself but is derived from it - like futures.
So if you had a commodity in crypto (in traditional markets this would be like wood or orange juice) then you can have futures of that. The Chicago project website explains it well. dyor
Jordan Walker
First. It’s not derivatives. It’s crypto-commodity based derivatives, something that has yet to be invented. Second. LINK is better because look at the tweet in OP pic. LINK is better because it seems like they’ll actually use it.
Ethan Powell
So what you're trying to tell me is the remake of trading places is going to be with GAS commodities? what a time to be alive. Can someone meme me some images plz
Look at this infographic to see how big the derivatives market is. People have been talking about derivatives as a use case of LINK and obviously you can see from the infographic how huge that would be.
Now imagine that LINK was used to create a derivatives market based on cryptocommodities. Imagine if this was actually in development by academics.. oh shit it is cuz they just retweeted something saying they would. We’re all gonna make it
Luis Martin
A better way to understand it is to understand the purpose of derivatives: their fundamental purpose is to protect buyers' from the future volatilty of the price. So if a baked-goods producer wants to buy wheat, they might want to buy it at a guaranteed price in the future, and to do that, they'd buy a type of derivative instrument. Of course, derivatives can also be used by speculators and traders.
Crypto-commodities themselves aren't necessarily derivatives, like mentioned but we'll most likely see derivative-type instruments used, especially around cryptocurrencies themselves.
Of course, you can see where LINK comes in: any time reliable trusted data, and secure payment messages, are required for potential smart-contract adoption, there's a use-case for the LINK network.
Jacob Lopez
>projectchicago.io >Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets.
>Like these conventional commodities, blockchain commodities are critically important to blockchain-based industries, and fluctuations in their prices pose a business risk. (Recent, high Bitcoin transaction fees, for example, were crippling.) A critical property of physical commodities is that they can be stored and delivered under contract. The resulting derivatives market (financial instruments based on commodity prices) is instrumental for managing and alleviating the business risks associated with surpluses and shortages of the commodities they rely upon. In contrast, cryptocommodities such as Ethereum Gas and Bitcoin block space cannot be directly stocked or traded. So how could a cryptocommodities market like, say, the Chicago Mercantile Exchange, possibly work?
The answer is “oracle based solutions” like LINK.
Owen Nguyen
You are all MANIACS! This meme has gone too far.
Jonathan Reed
knapp 8k
Liam Nelson
Id like about 33k link what to sell?
Luke Rivera
We haven’t even reached peak retard. We’re all in this together
Henry Parker
interesting that no one has mentioned that ari juels is part of project chicago. too obvious?
Dylan Gray
>Looking into getting a share of the derivatives market >Not looking into Fortuna
I'm a LINK holder since ICO but guys, FOTA is about a $10 million market cap right now...
Gavin Mitchell
Xrb
Grayson Ward
why is there a cross?
Eli Torres
he died :( just kidding
Chase Rivera
Derivatives market is huge (bigger than the bond market). Basically financial products people often buy to hedge against risk (Eg a swap is where two counterparties agree to pay eachother the interest on a notional amount. One pays fixed and one pays floating. You can buy these things for 50 years in the future).
Currently each party has to sign a giant legal document, prove they're big enough to take on the obligations, and lodge some collateral with an exchange or clearing house. They're then obligated by law to pay the agreed terms.
All of those extra things are necessary to ensure the counterparty pays up. You have to trust all those middlemen, and they all take a cut.
Now imagine the same swap could be executed by a computer, trustlessly. That's a whole lot of middlemen and risk you're cutting out.
John Smith
I just saw that myself looking over the projectchicago.io website.
Grayson Ramirez
Yeah it just double confirms that project Chicago and LINK will be intimately connected. It’s not too obvious - most link holders are now retards who only hold for the memes.
He’s dead. RIP
Charles Perez
lol, could have used an asterisk or something instead
Dominic Brooks
PLS DELET SIR
Aaron Bennett
Futures and options. (I recently learned futures exist on magic the gathering cards, the market is that serious).
Basically you know how CBOE has bitcoin futures? Those are normal products to have on commodities (Wheat futures, gold futures, currency futures, etc). It was natural they'd crop up at some point, and whether by sergey and this CL friendly company or not, more and more crypto derivatives will exist in the future as the crypto-space matures.
They're called derivatives cause they DERIVE their price from the price of the underlying asset.
Samuel Jenkins
Yes.
Just to repeat: project Chicago wants to bring derivatives to crypto. Not using smart contracts in traditional derivative markets, but creating a new derogate market based on crypto commodities - these are forms of computation or block space, rather than traditional commodities like oranges or rice.
Carter Stewart
>magic the gathering
Jaxon Rogers
One thing I’m not sure about. Would cryptocommodities include stable coins, say, pegged to the price of gold or oil or other IRL commodities? They don’t talk about that on project Chicago site so maybe I’m not thinking about it correctly.
Christian Nelson
what? lmao its real projectchicago.io/ holy shit so the derivatives thing wasn't a fucking meme, what the fuck
Aaron Martinez
Blockchain represents chaos. It reminds me of how Adam and Eve were in paradise, but a malicious snake doomed them with false promises, just like all the shills here.
You also need to sort smart contracts out, or how would you say it... They'll pump new useless stuff all the time to fill the void, like PoWH and MOBIUS and man, that is NOT good for you. LINK represents value and transcendence. It literally unites the smart contracts with real-world data, this represents the death of god. This is what Nietzsche was talking about all along.
In Jungian psychology, and I find this tremendously intriguing, you need to be able to contend with yourself in domains out of your comfort zone.
That includes being made fun of on Bhutanese basket-weaving forums for your decisions in life, all of the FUD, the highest of highs and the lowest of lows. But, in order to grow and extend your physical manifestation in this world you must endure this. And once you've made that trip, to hell and back, oh man, you've EARNED your place in the book of legends.
Leo Stewart
I sold honestly. I've been holding this shitcoin for far too long.
Owen King
>shit posting elsewhere
Jason Sanders
JPbuysomemeaning.png
Logan Jones
Daggers are quite commonly used in lieu of asterisks, especially in papers with equations in.